Personal Flood Insurance Coverage Guide

With the National Flood Insurance Program (NFIP) being underfunded and in debt, and with various proposed changes still pending approval, the flood insurance industry has had a strong need for flood coverage in the private market.Because of improving analytics to better predict floods, coverage in the private market is now possible. As a result, ISO developed the Personal Flood Policy program, which enables insurers to provide optional coverage not typically covered under the NFIP and dovetails with the homeowners insurance policy.

This 1st edition of the Personal Flood Insurance Coverage Guide introduces the new ISO form and breaks down everything professionals need to know, including:

• The development and history of the National Flood Insurance Program (NFIP)  
• The new ISO Personal Flood Policy as compared to the existing NFIP policy and the differences between coverages  
• Flood zones and how they are determined  
• Types of flooding  
• Base Flood Elevation and why it is important  
• The differences between the new ISO Personal Flood Policy and the standard homeowners policy  
• What makes properties eligible or ineligible for coverage  
• The concept of 100-year floods, as well as the actual hazards of 50, 25, and 10 year floods

Every client and every situation is different. Some areas are more prone to flooding, and not all floods are the same. The Personal Flood Insurance Coverage Guide will help you navigate the ins and outs of the private flood market and ISO’s new form, helping you better advise your clients based on their individual insurance needs.  Both the NFIP and ISO Personal Flood Policy forms are presented in this book for your reference.